9 Highest Paying Business Degrees
If you’re looking for the highest-paying business degrees, you’ve come to the right place.
In today’s competitive job market, a degree in business can open up a dimension of job opportunities and lead to a lucrative career.
Whether you’re interested in finance, marketing, or management, various degrees can help you achieve your career goals.
In this guide, we’ll explore some of the highest-paying business degrees and what you can expect from each program.
So, let’s get started!
What are Business Majors?
A business major is an academic program specializing in various business aspects, such as finance, accounting, marketing, management, and entrepreneurship.
Basically, these majors are intended to give students a thorough understanding of business principles and practices.
Many business majors allow students to gain practical experience through internships, co-op programs, or other hands-on learning opportunities in addition to classroom instruction.
These opportunities can be invaluable in helping students use what they have learned in the classroom in real-world situations and build a network of professional contacts.
How Does a Master’s in Business Degree Impact Your Salary?
Yes, a bachelor’s degree in business is great, but earning a Master’s degree in the business major can significantly impact your salary potential.
According to Graduate Management Admission Council, the median base income for MBA graduates in the United States is $115,000.
This is certainly higher than the median starting salary for individuals with just a bachelor’s degree.
For several reasons, earning a Master’s degree in the business major can lead to higher salaries.
First, advanced degrees in business are highly valued by human resource managers and can help set candidates apart in a competitive job market.
Additionally, you can directly apply the skills and knowledge gained through an MBA or other business master’s program to various high-paying careers in fields such as finance, consulting, and marketing.
As a result, earning a Master’s in Business major can be a wise investment for those looking to increase their earning potential and advance their careers in the business world.
What are the Highest-Paying Business Degrees?
Here is a detailed list of the top 9 highest-paying business degrees:
1. Business Administration.
If you’re a major in Business Administration, you can expect that it will cover a broad range of business topics, including finance, accounting, marketing, management, and operations.
Graduates with a Business Administration degree can pursue careers in various fields, including finance, marketing, management, and human resources.
The annual average salaries for MBA graduates in the United States are around $115,000-$120,000.
Skills developed through a Business Administration degree program can include leadership, critical thinking, communication, data analysis, problem-solving, and strategic planning.
Aside from that, graduates also develop a broad understanding of business management, including accounting principles, financial analysis, marketing strategies, and management techniques.
2. Finance.
A major in finance program focuses on the financial aspects of business management, such as investment analysis, financial planning, and risk management.
If you graduate with a finance degree, you can pursue careers in finance, accounting, investment banking, and corporate finance.
The median salary for MSF graduates in the United States is $89,000.
Skills developed through a finance degree program include financial management, investment analysis, risk management, accounting, and financial planning.
Graduates and financial managers also develop critical thinking, problem-solving, communication, and data analysis skills.
A finance degree can open up various job opportunities across multiple industries, such as:
- Financial analyst
- Investment banker
- Management analyst
- Accountant
- Personal financial advisor
- Risk manager
- Credit analyst
- Portfolio manager
- Corporate finance professional
- Insurance underwriter
3. Accounting.
In Accounting, the degree programs focus on the principles of financial accounting, cost accounting, auditing, and taxation.
Also, with an accounting degree, you can pursue public, corporate, government, and forensic accounting careers.
The median salary with a Bachelor’s degree in Accounting is $53,000 per year.
Skills developed through an Accounting degree program can include financial analysis, auditing, taxation, financial reporting, and accounting principles.
Graduates are expected to develop critical thinking, problem-solving, attention to detail, and communication skills.
Possible jobs for Accounting majors include Certified Public Accountant (CPA), Tax Accountant, Internal Auditor, Financial Analyst, and Forensic Accountant.
4. Marketing.
A major in Marketing within a business degree program focuses on the principles of consumer behavior, market research, branding, advertising, and sales.
If you graduate with a Marketing degree, you can pursue careers in marketing, advertising, public relations, sales, and market research.
A Marketing manager can expect an average salary of $65,000 annually.
Skills developed through a Marketing degree program can include market research, branding, advertising, public relations, sales, and consumer behavior.
Graduates also develop critical thinking, problem-solving, communication, and data analysis skills.
Possible jobs for Marketing majors include Marketing Manager, Advertising Manager, Public Relations Specialist, Sales Manager, and Market Research Analyst.
5. Management.
If you’re majoring in a Management program, it is important to know that it focuses on the principles of organizational behavior, leadership, human resources, and operations management.
Graduates with a Management degree can pursue careers in management, human resources, operations, and consulting.
The median annual salary for a Management Consultant is $86,000 per year.
The business skills developed through a Management degree program include leadership, organizational behavior, strategic planning, human resource management, and operations management.
Graduates are expected to develop critical thinking, problem-solving, communication, and data analysis skills.
Possible jobs for Management majors include Management Consultant, Human Resource Manager, Operations Manager, Project Manager, and Business Analyst.
6. Information Technology.
A major in IT (Information Technology) focuses on the principles of computer programming, database, and management information systems, network security, and software development.
Also, a graduate with an IT degree can pursue IT management, software development, cybersecurity, and database administration careers.
The annual average salaries for MSIT graduates in the United States are around $87,000-$92,000.
Skills developed through an IT degree program include programming languages, software development, database management, cybersecurity, and network administration.
Graduates are expected to develop critical thinking skills, problem-solving, communication, and project management skills.
Possible jobs for IT majors include IT Manager, Software Developer, Cybersecurity Analyst, Network Administrator, and Database Administrator.
7. Data Analytics.
A major in Data Analytics within a business degree program focuses on the principles of data analysis, data management, and data visualization.
If you graduate with a Data Analytics degree, you can pursue careers in data analysis, business intelligence, data science, and information systems.
The median salary for a Data Analyst is $62,000 per year.
Skills developed through a Data Analytics degree program can include data analysis, data management, statistical modeling, data visualization, and data mining.
Graduates also develop critical thinking skills, problem-solving, communication, and project management skills.
Possible jobs for Data Analytics majors include Business Intelligence Analyst, Data Analyst, Data Scientist, Database Administrator, and Information Systems Manager.
8. Human Resource Management.
A major in Human Resource Management program focuses on the principles of organizational behavior, employment law, business ethics, employee relations, and talent management.
Graduates with a Human Resource Management degree can pursue careers in human resources, talent management, employee relations, and organizational development.
The median salary for Human Resources Managers is $70,000 per year.
Skills developed through a Human Resource Management degree program can include employment and business law, employee relations, talent acquisition, compensation and benefits, and performance management.
Graduates are expected to develop critical thinking, problem-solving, and strong communication skills.
Possible jobs for Human Resource Management majors include Human Resources Manager, Talent Acquisition Specialist, Employee Relations Specialist, Compensation and Benefits Manager, and Organizational Development Specialist.
9. International Business.
A major in International Business program focuses on the principles of global trade, multinational corporations, cultural differences, and international finance.
If you graduate with an International Business degree, you can pursue careers in international trade, global business operations, and international marketing.
The starting average salaries for business and financial occupations are around $50,530- $59,800, including many careers you may pursue with an International Business degree.
Skills developed through the International Business majors program can include international trade, as well as global market analysis, cross-cultural communication, international finance, and foreign language proficiency.
Graduates also develop critical thinking, problem-solving, communication, and negotiation skills.
Possible jobs for International Business majors include International Trade Specialist, Global Business Analyst, International Marketing Manager, International Finance Analyst, and Multinational Operations Manager.
Should You Get a Business Degree?
Whether or not you should get a business degree depends on your goals and career aspirations.
Here are some things to consider:
1. Career goals.
If you are pursuing a business career, business majors can be a great asset.
Many companies require a degree in the business field for specific positions, and it can also help you stand out in a competitive job market.
2. Skill development.
Business degrees can provide you with a broad range of skills that can be applied to many industries.
These skills include critical thinking, problem-solving, communication, and leadership.
3. Networking.
Business school can allow you to network with other students and professionals in your field.
This can lead to valuable connections that can help you throughout your career.
4. Cost.
Business majors can be expensive, and it is essential to consider the cost of tuition and student loans when deciding whether or not to pursue a degree.
5. Alternative paths.
It is also essential to consider alternative paths to a career in business, such as gaining practical experience in business ventures through internships or starting your own business.
Ultimately, the decision to get a business major depends on your individual goals and circumstances.
It is essential to carefully consider your options and weigh the potential benefits and costs before deciding.
Final Thoughts.
Getting a degree in business can be a smart move because it can help you develop marketable abilities for employers.
It can also give you access to many different types of employment and career opportunities.
Even so, it would be best if you seriously consider the degree program and career path that best fits your interests and aspirations.
Finance, accounting, marketing, management, international business, information technology, as well as data analytics are some of the best business degrees that can lead you to the highest-paying jobs.
But remember, the financial reward is only one consideration among many when picking a profession.
Considerations like job contentment, work-life balance, and career goals are also important so that a degree in business may benefit your business career in the long run!
